Business, 08.07.2019 23:30, orangnevertrust69
Phillips rock and mud is trying to determine the maximum amount of cash dividends it can pay this year. assume its balance sheet is as follows: assets cash $ 323,000 accounts receivable 851,000 fixed assets 992,000 total assets $ 2,166,000 liabilities and stockholders' equity accounts payable $ 510,000 long term payable 296,000 common stock (280,000 shares at $1 par) 280,000 retained earnings 1,080,000 total liabilities and stockholders' equity $ 2,166,000 a-1. from a legal perspective, what is the maximum amount of dividends per share the firm could pay?
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